General News

Oil Hits Highest Since 2015

9th January 2018
On Tuesday, the Greenback settled high vs. a basket of major currencies, supported by anticipations for upcoming rate hikes by the U.S. Federal Reserve.
• The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up by 0.22% at 92.28 pips.
The common currency fell by 0.27% vs. the U.S. dollar and settle at $1.1936, negatively affected by the Strong USD. On the release front, the Euro-Zone Unemployment Rate (NOV), declined to near 9-year low at 8.7% vs. 8.7% expected.
The Sterling pound fell as much as 0.29%, to settle at $1.3529. yesterday, the U.K. Prime Minister Theresa May named a new head of her ruling Conservatives, among other changes aimed at handing her government a new start after months of divisions over Brexit, which have all weighed on the pound.
The yen edged higher after the BOJ trimmed the size of its bond purchases, raising speculation that it could slow its monetary stimulus later this year. Against the JPY, the USD fell as much as 0.19%, to settle at ¥112.91.
Gold prices edged down, falling further from last week’s three-and-a-half month highs as the Greenback boosted against the single currency and as traders continued to bet on further rate rises by the Federal Reserve this year. Gold Futures – Feb 18 (GCG8), fell as much as 0.38%, to settle at $1,315.40.

Oil prices settled high near multi-year highs, still supported by a decline in U.S. oil rigs and supply cuts by OPEC and Russia. Crude Oil WTI Futures – Feb 18 (CLG8) rose as much at 0.24% at $61.88 and Brent Oil Futures – Mar 18 (LCOH8) was up by 0.04% as $67.81.

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